Shanghai, China – Chlorine and sodium hydroxide maker Shanghai Chlor-Alkali Chemical (SCAC) estimates 2017 net profit will be between CNY 950m ($150m) and CNY 1bn.
In 2016, the company made a net loss of CNY 328m.
The company said that net profit, excluding non-recurring elements, for the year will be in the range CNY 970m to CNY 1.02bn.
The company has 600kT/year capacity for chlorine and 720kT/year capacity for sodium hydroxide.
In 2016 it generated CNY 6.8bn total revenue from above and other businesses such as trading.
According to the company's announcement, sodium hydroxide price rose significantly last year.
‘Our facilities had been running at high capacity utilisation rate thanks to hefty downstream demand,’ said the company.
SCAC supplies to diisocyanate makers such as Covestro, BASF and Huntsman. In 2014 it joined forces with the latter two to build an MDI project, as UTECH-polyurethane.com reported at the time.
State-owned chemical conglomerate Huayi Group is SCAC’s largest shareholder with a 47% stake.
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